Hi Guys, I am interested to know the strategy to buy +60% of controlling shares of Co-Op building in order to convert it into rental units, has anyone been involved in this kind of deal?

In fact, I advise the owner to stay away so they don't get involved and cause problems.

My understanding is that since late fees cannot be assessed until rent is 30 days past due, the state views discounts to pay by some certain date as a late fee in disguise.Regarding the lease options or lease purchases, I am not sure how they're structured here as I have not been involved in any.

Hello everybody, I’m a new member to the bigger pockets community but have been involved in buy and hold rentals for 5 years.

There are a number of factors you can use to justify a mid-level or higher fee, such as whether there are shared hallways that will require upkeep and cleaning, is there any outdoor space, landscaping, snow and ice removal, if there is a parking lot to maintain, how many tenants (this is obviously the biggest one), and whether you will be charges gross rent or collecting and reconciling CAM each year. 

The same enrolled agent also suggests that opening a 'property management' business should allow the deduction of the overhead 'cleanly', but frankly creating a Sch C business with only overhead expenses to support Sch E activities seems to be 1) a HUGE RED FLAG as there is NO INCOME to the business created, and only expenses incurred over SCH E activities only.

the units are currently occupied so I anticipate little to no repairs beyond cleaning the carpet and pressure washing the outside. 

and involve a bank in the equation!

Then opendoor would clean the home, maybe paint it, maybe put new carpet if you are lucky then resell your home for $400k in a week or two.

There are two steps involved First, what you need to do is: A) First figure out your casualty loss ( even though you received the money form the insurance, they usually pay after your deductible amount, the deductible amount could be your loss, at the least.